Law and Economic Development

Edited by Hans-Bernd Schäfer, Affiliate Professor, Bucerius Law School Hamburg, and Professor (em.) of Law and Economics, University of Hamburg, former Director, Institute of Law and Economics, Germany and the late Angara V. Raja, formerly Reader, Department of Economics, University of Hyderabad, India

• Contents:AcknowledgementsIntroduction Hans-Bernd Schäfer and Angara V. RajaPART ILEGAL SYSTEMS, ECONOMIC GROWTH AND DEVELOPMENT AThe Importance of Legal Systems and Their Impact on Growth and Development1. Frank B. Cross (2002), ‘Law and Economic Growth’2. Pranab K. Bardhan (2000), ‘Understanding Underdevelopment: Challenges for Institutional Economics From the Point of View of Poor Countries’3. Richard A. Posner (1998), ‘Creating a Legal Framework for Economic Development’BLegal Reforms and Obstacles to Reform4. Kevin E. Davis and Michael J. Trebilcock (2001), ‘Legal Reforms and Development’5. Avinash Dixit (2003), ‘Some Lessons From Transaction-Cost Politics For Less-Developed Countries’6. Jonathan R. Hay and Andrei Shleifer (1998), ‘Private Enforcement of Public Laws: A Theory of Legal Reform’CCorruption, Capture and Rent-Seeking7. Andrei Shleifer and Robert W. Vishny (1993), ‘Corruption’8. Pranab Bardhan (1997), ‘Corruption and Development: A Review of Issues’9. Anne O. Krueger (1974), ‘The Political Economy of the Rent-Seeking Society’PART IILAW AND FINANCE AFinance, Growth, Development and the Law10. Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny (1998), ‘Law and Finance’11. Ross Levine (1999), ‘Law, Finance, and Economic Growth’12. Ross Levine (1998), ‘The Legal Environment, Banks, and Long-Run Economic Growth’13. Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny (1997), ‘Legal Determinants of External Finance’BCorporate Governance, Capital Markets and Bankruptcy14. Andrei Shleifer and Robert W. Vishny (1997), ‘A Survey of Corporate Governance’15. Simon Johnson, Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer (2000), ‘Tunneling’16. Simon Johnson, Peter Boone, Alasdair Breach and Eric Friedman (2000), ‘Corporate Governance in the Asian Financial Crisis’17. Elazar Berkovitch and Ronen Israel (1999), ‘Optimal Bankruptcy Laws Across Different Economic Systems’PART IIIPROPERTY AND CONTRACTS 18. Gerald P. O’Driscoll Jr. and Lee Hoskins (2003), ‘Property Rights: The Key to Economic Development’19. Andrzej Rapaczynski (1996), ‘The Roles of the State and the Market in Establishing Property Rights’20. Simon Johnson, John McMillan and Christopher Woodruff (2002), ‘Courts and Relational Contracts’21. Eric Van Tassel (2004), ‘Credit Access and Transferable Land Rights’PART IVTHE PREDATORY STATE, LEGAL PROCESS, JUDICIARY AND SUBSTITUTES TO LEGAL PROTECTION 22. Edgardo Buscaglia (2001), ‘An Analysis of Judicial Corruption and Its Causes: An Objective Governing-Based Approach’23. Cheryl W. Gray (1991), ‘Legal Process and Economic Development: A Case Study of Indonesia’24. Douglas Marcouiller and Leslie Young (1995), ‘The Black Hole of Graft: The Predatory State and the Informal Economy’25. Timothy Frye and Andrei Shleifer (1997), ‘The Invisible Hand and the Grabbing Hand’26. Oriana Bandiera (2003), ‘Land Reform, the Market for Protection, and the Origins of the Sicilian Mafia: Theory and Evidence’27. Timothy Frye and Ekaterina Zhuravskaya (2000), ‘Rackets, Regulation, and the Rule of Law’Name Index

'This is an impressive collection of articles on a subject of vital importance for the welfare of the world's poor.'